LLC Commingling Risks: California Fiduciary & Alter Ego Law
One of the fastest ways to create problems in a California LLC is to blur the line between personal money and company money. A member or manager may think it is harmless to use a personal credit card to cover business expenses, pay vendors informally, or reimburse themselves later. Sometimes those things happen in early-stage companies or closely held businesses. But when those transactions are not disclosed, not documented, or not properly entered into the...
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